Tata Steel named top performer in Iron & Steel sector in Dun & Bradstreet's India's Top 500 Companies 2022
~ Tata Steel’s ESG focus for a sustainable and responsible growth played a big role in securing this coveted recognition ~
Tata Steel has been named top performer in the Iron and Steel sector in Dun & Bradstreet’s India’s Top 500 Companies 2022. The theme for the Top 500 Companies 2022 publication is 'ESG: The only way for sustainable and responsible growth'. Dun & Bradstreet (D&B) has been tracking the success stories of the Top 500 companies for more than two decades through its premier publication, ‘India’s Top 500 Companies’.
Chanakya Chaudhary, Vice President, Corporate Services, Tata Steel, said: “We are honoured to be featured in Dun & Bradstreet’s ‘India’s Top 500 Companies’ 2022 and to share space with India’s best-performing companies not just in the Iron & Steel sector but across all industries. This year’s listing is also special considering the inclusion of ESG as one of the key parameters to make it to this list. As a responsible corporate citizen, we recognise our responsibilities towards people and the planet, and we continue to focus on strategic priorities to create long-term sustainable value for all our stakeholders. We would like to thank D&B and the jury of eminent business leaders who adjudicated the listing and also congratulate other companies who have made it to this privileged list.”
In line with its vision of being the steel industry benchmark in Value Creation and Corporate Citizenship, Tata Steel has set Environmental, Social & Governance (ESG) ambitions and priorities, which drive various initiatives across its value chain. The Company has integrated ESG principles in all aspect of its business. Tata Steel intends to identify key ESG risks in supply chain, collaborate with partners for risk mitigation, and integrate ESG performance of supply chain partners in procurement decision-making. The Company has also been constantly engaging with ESG rating agencies for improving its disclosure practices.
Dun & Bradstreet (NYSE: DNB), the world’s leading knowledge provider, has been tracking India’s economic progress over the past 20 years. India’s Top 500 companies are not only the frontrunners of the country’s corporate sector but are, in fact, the driving force of our economy. Over the past two decades, the contribution of these Top 500 companies to the country’s GDP has grown 12 times even as their aggregate revenue increased 16 times since 1997. The Market cap of India’s Top 500 companies has grown an impressive 29 times from 1997 to 2022 and currently accounts for nearly 91% of the market cap of the Bombay Stock Exchange. Besides, these top 500 companies of India contribute to nearly 16% of its GDP and account for around 46% of the nation’s foreign exchange earnings and approximately 23% of its tax revenues. They spent at least Rs 153.3 bn in FY20 on CSR and have been providing employment to nearly 6.7 Mn people across the country.
About Tata Steel
Tata Steel group is among the top global steel companies with an annual crude steel capacity of 34 million tonnes per annum. It is one of the world's most geographically diversified steel producers, with operations and commercial presence across the world. The group recorded a consolidated turnover of US $ 32.83 billion in the financial year ending March 31, 2022.
A Great Place to Work-CertifiedTM organisation, Tata Steel Limited, together with its subsidiaries, associates, and joint ventures, is spread across five continents with an employee base of over 65,000. Tata Steel has been a part of the DJSI Emerging Markets Index since 2012 and has been consistently ranked amongst top 10 steel companies in the DJSI Corporate Sustainability Assessment since 2016. Besides being a member of ResponsibleSteelTM, worldsteel’s Climate Action Programme and World Economic Forum’s Global Parity Alliance, Tata Steel has won several awards and recognitions including the World Economic Forum’s Global Lighthouse recognition for its Jamshedpur, Kalinganagar and IJmuiden Plants, and Prime Minister’s Trophy for the best performing integrated steel plant for 2016-17. The Company, ranked as India’s most valuable Metals & Mining brand by Brand Finance, featured amongst CII Top 25 innovative Indian Companies in 2021 and top 10 sustainable organisations of India Hurun Research Institute in the 2021 Capri Global Capital Hurun India Impact 50, received Steel Sustainability Champion recognition from worldsteel for five years in a row, ‘Most Ethical Company’ award 2021 from Ethisphere Institute, RIMS India ERM Award of Distinction 2021, Masters of Risk - Metals & Mining Sector recognition at The India Risk Management Awards for the sixth consecutive year, and Award for Excellence in Financial Reporting FY20 from ICAI, among several others.
Statements in this press release describing the Company’s performance may be “forward looking statements” within the meaning of applicable securities laws and regulations. Actual results may differ materially from those directly or indirectly expressed, inferred or implied. Important factors that could make a difference to the Company’s operations include, among others, economic conditions affecting demand/ supply and price conditions in the domestic and overseas markets in which the Company operates, changes in or due to the environment, Government regulations, laws, statutes, judicial pronouncements and/ or other incidental factors.
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Chief, Corporate Communications - Tata Steel